Lehman Brothers , one of the primary banks in the world, has experienced many difficulties and problems which led to its bankruptcy. On the 15th of November , the economic crisis hits the world with striking news : Lehman Brothers Bankruptcy . This was due to financing too many assests with too little capital which was a very risky move. Lehman Brothers is the biggest investment bank to announce economic failure since 1990. After encountering some problems with other bank partners , Lehman Brothers had hoped to raise the capital by selling off a stake in the investment unit, use that capital to sequel some of its assets to stockholders. The bank’s plan didn’t work out , 26000 employees lost their jobs . It’s total chaos , and the outcomes of the economic crisis were more to come.
References :
- Lehman Brothers Holdings Files For Bankruptcy. (2008, 15 September). Retrieved 06 November ,2009, from Recession.org
http://recession.org/news/lehman-brothers-files-for-bankruptcy
- Images retrieved from : http://images.newstatesman.com/articles/2008/1014/014_p22.jpg
http://www.trendbird.co.kr/attach/1/1093925443.jpg
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